OfficeMax announced it will close 20 stores by the end of 2011 in addition to downsizing existing stores and curtailing expansion as a means to cut costs following weak sales, according to published reports.
Gap has deployed the Google Wallet pay-by-smartphone capability in more than 65 of its California stores, joining leading retailers including Macy's, OfficeMax, Toys"R"Us and American Eagle in using the technology. Gap is promoting usage of the app with a 15 percent discount off customers' entire purchase through February 2012.
OfficeMax announced a strategic pilot with RadioShack in which OfficeMax will pilot the RadioShack mobile offering beginning in January 2012. As part of this pilot program, RadioShack employees will offer mobile products and services, including prepaid and postpaid wireless products, accessories and service plans, as well as assist in selling OfficeMax consumer electronics products and services.
Naperville, Ill. -- OfficeMax said Friday that its executive VP and chief merchandising office Ryan Vero has resigned, effective Dec. 2. Michael Lewis, executive VP and president of retail, will continue to provide oversight to the marketing and merchandising teams, according to OfficeMax. OfficeMax said it is initiating a search for a chief merchandising officer immediately.
Naperville, Ill. -- OfficeMax announced that it has appointed Jim Barr as executive VP and chief digital officer, effective Nov. 14. Barr will be responsible for all aspects of the company's e-commerce business and for driving its multichannel digital strategy. Barr has been working with the OfficeMax e-commerce business in an advisory capacity since July 2011. Prior to that, he served as president of Sears Holdings' online division.
OfficeMax reported that net income for the quarter ended Sept. 24 rose to $21.5 million, compared with $20 million in the year-ago period. Sales dipped 2.1 percent to $1.77 billion from $1.81 billion, barely meeting Wall Street’s expected $1.807 billion.
_ NAPERVILLE, Ill., Oct. 19, 2011 /PRNewswire/ -- OfficeMax(R) Incorporated "We are delighted to welcome Jim to the Board of OfficeMax," said Rakesh Gangwal, Chairman of OfficeMax. "He brings significant expertise, insight and years of experience as a successful business leader, and we will benefit from having his perspective on the board." Mr. Marino, 61, recently retired as President and Chief Executive Officer of Alberto-Culver Company, a personal care products company, roles he had held since November 2006. Mr. Marino previously served as President of Alberto Culver Consumer Products Worldwide from 2004 to November 2006 and as President of
Naperville, Ill. -- OfficeMax on Friday said it is amending two credit lines and consolidated them into a new $650 million revolving credit facility that expires in October 2016. The two existing agreements included a $700 million U.S. credit facility and a $60 million Canadian facility ($59.1 million U.S.) that were set to expire in July 2012. There are currently no outstanding borrowings under the facility.